More than K82 million
has to date been spent on community mine continuation agreement (CMCA) trust
investment projects to date, according to Ok Tedi Development Foundation (OTDF)
chief executive officer Ian Middleton.
He revealed these
figures at the launching of mv Fly
Warrior at Sturt Island in South Fly and Obo in Middle Fly at the weekend.
 |
| mv Fly Warrior, CMCA’s latest investment at a cost of K19 million, powers up the Fly River last Saturday.-Picture by MALUM NALU |
The money has been
spent on three vessels, two Twin Otter aircraft, and a new housing estate and
OTDF office complex in Kiunga.
“The actual amount of
money spent is K82, 775, 168.68, which not only includes the three vessels and
the two Twin Otter aeroplanes, but also a new housing estate and the OTDF
office complex both in Kiunga,” Middleton said.
“These investments will
generate an 8% return per annum on each investment.
“These investments are
all in the Western province and therefore visible to the communities that are
here.”
The investments are:
·
Two Series 400 Twin Otters (K34, 708,
548.32);
·
Fly Hope (K6, 898, 442.71);
·
Fly Explorer (K5, 941, 842.68);
·
Fly Warrior (K18, 678, 496);
·
Kiunga office complex (K8 million); and
·
Kiunga housing estate (K8, 547, 838.97).
Approval of these trust
investments is made following approval by the CMCA advisory committee, which is
made up of 18 community nominated leaders from the 156 villages in the eight
trust regions and mine villages; and the OTDF board which includes the four
associate directors.
Middleton said the CMCA
trust investment projects derived income from Western province people’s
dividend trust fund (WPPDTF), PNG Sustainable Development Program (K21.5
million each year), and direct contribution by Ok Tedi Mining Ltd (OTML).
He said relationships
with the Fly River provincial government headed by Governor Ati Wobiro had
generally been very good.
“The relationship with
the provincial government is excellent,” Middleton said.
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